Market News
Dollar gains on yen on bets of US growth, inflation - REUTERS
- Summary
- US dollar hits five-month high against Japanese yen
- Jobless claims fall to lowest in a month
- Fed expected to cut rates by 38 bps next year
NEW YORK, Dec 26 (Reuters) - The U.S. dollar hit a five-month high against the Japanese yen on Thursday on expectations the greenback would be boosted next year by policies by the incoming Donald Trump administration that are expected to boost growth and lift inflation.
Trading volumes were light on Thursday with many traders on holiday after Wednesday’s Christmas holiday and before next week’s New Year holiday.
Looser business regulations and tax cuts are expected to help propel U.S. growth next year while analysts say that a clamp-down on illegal immigration and the prospect of new tariffs on trading partners could increase price pressures, and weigh on the economy longer term.
